Michael Cahill
Ceist:162. Deputy Michael Cahill asked the Minister for Foreign Affairs and Trade her views on a matter (details supplied); and if she will make a statement on the matter. [23314/26]
Amharc ar fhreagraThursday, 26 March 2026
Ceisteanna (162)
Freagraí scríofa
The Government is currently progressing the Arbitration (Amendment) Bill 2025 in Dáil Éireann as part of ongoing efforts to take forward ratification of the EU-Canada Comprehensive Economic and Trade Agreement (CETA) and other international agreements containing similar investment dispute resolution provisions, including those with Chile, Mexico, Singapore and Vietnam.
The Bill will amend the Arbitration Act 2010, providing a new procedure in Irish law for the enforcement of awards made by tribunals established under international agreements containing investment dispute resolution provisions to address concerns identified by the Supreme Court in the Costello judgments.
It is important to note that the EU’s new approach to investment protection includes CETA’s Investment Court System (ICS), which will replace the long-standing Investor-State Dispute Settlement or ISDS mechanism. The EU and its Member States are keenly aware of the criticisms of the ISDS system. To overcome the shortcomings attributed to the ISDS system, the EU and its Member States have put forward reforms addressing these concerns head-on. This new, progressive system contains investment protection provisions that are balanced against a State’s right to regulate in the public interest.
These international agreements also provide that investment protection provisions shall not be interpreted as a commitment from governments that their legal frameworks will remain unchanged. The agreements further clarify that the fact that a measure may negatively affect an investment or affect an investor’s expectations of profits is not sufficient to say that the measure is inconsistent with the agreement.
On 1 December 2025, the Bill was published to the Oireachtas website. On 9 December, the Bill passed Second Stage debate in Dáil Éireann. The Bill is currently being debated at Committee Stage in the Dáil.